Unemployment reached an 11-year high today when another huge increase in the numbers looking for work edged the total closer to the two million mark, The Independent reports.
Official figures for the three months to September showed that 1.82 million people were out of work, an increase of 140,000 from the previous quarter. It was the highest figure since the end of 1997 and confirmed the fears of unions and analysts that the politically-sensitive two million mark would soon be breached. The number of people claiming jobseekers allowance rose by 36,500 last month to 980,900, the highest figure since the spring of 2001 and the worst monthly increase since 1992. BORROWERS TAKING OUT POPULAR tracker mortgages in the wake of the global credit crisis are paying ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
